공시 • Jun 13
Arizona Metals Intersects 10.5 m grading 6.2% CuEq, 7.3 m grading 4.6 % CuEq, and 29 m grading 1.2% CuEq at the Kay Mine Deposit and Provides Update on Western Target Drilling
Arizona Metals Corp. announce the latest drilling results from the Kay Mine Deposit in Arizona. The results from five additional drill holes demonstrate the significant potential of the deposit and highlight the expansion opportunities within the broader property. Highlights of the recent drilling include: Hole KM-23-103 intersected 10.5 meters grading 6.2% copper equivalent (CuEq), including 2.7 meters at 10.5% CuEq and 1.5 meters at 8.9% CuEq. This hole confirms the high-grade copper and gold mineralization previously encountered in hole KM-21-19. Moreover, it extends the mineralization 20 meters north of KM-21-19 and 70 meters north of KM-22-68. The presence of multi-gram gold assays suggests the potential for delineating a high-grade gold zone in the western portion of the Kay Mine Deposit. Hole KM-23-105 intercepted 7.3 meters grading 4.6% CuEq, (including 2.0 meters at 8.7% CuEq), starting at a depth of 553.2 meters. Furthermore, at 13.7 meters below, the hole intersected 28.8 meters grading 1.2% CuEq, including 2.3 meters at 5.9% CuEq. This hole confirms the excellent continuity, thickness, and grade of mineralization within a previously unexplored 50-meter gap in the central part of the Kay Mine Deposit. In addition to these promising results, drilling at the Western Target has been ongoing since February 2023. The first two holes, KM-23-104 and branch hole KM-23-104A, have been completed, and assays are currently pending. Hole KM-23-107 is underway to test for mineralization approximately 250 meters north of KM-23-104, while hole KM-23-108 is targeting an area approximately 125 meters south of KM-23-104. The Company has conducted downhole electromagnetic surveys on hole KM-23-104A and on 85% of hole KM-23-107, aimed at identifying extensions of previously observed conductors. The collected data are undergoing analysis and 3D inversion modeling. To further accelerate exploration efforts, Arizona Metals Corp. has mobilized a third drill rig specifically for targeting extensions of the high-grade mineralization encountered in hole KM-23-103. This rig will also focus on areas with lower drill density, including the northern part of the deposit and shallow areas above a depth of 200 meters. Arizona Metals is fully-funded (with $49 million in cash as of March 31, 2023) to complete the remaining 1,250 meters planned for the Phase 2 drill program at the Kay Mine Deposit (budgeted at $526,000) as well as an additional 76,000 meters in the Phase 3 program (budgeted at $32 million), which will be used to test the numerous parallel targets heading west of the Kay Mine Deposit, as well as possible northern and southern extensions. Drilling Details—Kay Mine Deposit Drill holes KM-23-100 through 103, described below, extended mineralization northward or filled in large gaps in mineralization along the northern portion of the deposit, in its upper half. Collectively, they confirmed mineralization in an area approximately 175 m in strike and 300 m in depth. KM-23-100 4.5 m @ 1.6% CuEq, 1.8 m @ 0.5% CuEq, and 1.3 m @ 0.7% CuEq This hole confirmed continuity of mineralization 40 m north of hole 34 and added mineralization in two deeper intervals in the footwall of the main deposit in this area. KM-23-101 2.3 m @ 1.1% CuEq A large step-out hole, this extended mineralization approximately 65 m north of hole 22, and suggests mineralization potential in the 200 m gap north of hole 11. KM-23-102 4.4 m @ 0.6% CuEq This hole confirmed mineralization in a large gap along the northern edge of the deposit: it extended mineralization almost 100 m north of hole 69 and 50 m north of hole 19 and indicates further potential in this area of the deposit. KM-23-103 10.5 m @ 6.2% CuEq (including 2.7 m @ 10.5% CuEq), and 3.5 m @ 0.6% CuEq Hole 103 confirmed the high Cu and Au grades drilled in hole 19, and extended mineralization 20 m north of hole 19 and 70 m north of hole 68. Hole 103 included numerous multi-gram Au assays, suggesting potential for tracing a steeply dipping, relatively high-Au zone within the western portion of the deposit. KM-23-105 28.8 m @ 1.2% CuEq, including 2.3 m @ 5.9% CuEq 7.3 m @ 4.6% CuEq, including 2.0 m @ 8.7% CuEq Hole 105 confirmed excellent continuity, thickness, and grade of mineralization in a 50-m gap in the central portion of the deposit. Recent surface mapping and sampling on the West target (Figure 5) has extended the mineralized horizon that was drilled in holes 104 and 104A and previously sampled at surface, where it returned 8.6% Cu. Nine new surface samples all returned percent-grade Cu, up to 4.9% Cu, and averaging 2.9% Cu. These samples also contained anomalous Au, up to 0.5 g/t Au. The surface strike length of mineralization exposed at surface in this area is now approximately 800 m. These surface samples suggest increasing intensity of mineralization to the north; along with data gathered in the drill holes completed and underway, these results will be used to refine drill targeting on the West Target. With the assayed holes released on June 12, 2023, the Company has completed a total of 82,200 meters at the Kay Mine Project since inception of drilling. The Company is fully-funded to complete the remaining 1,250 meters planned for the Phase 2 program with the priority focus areas for upcoming drilling as well as an additional 76,000 meters currently planned for the upcoming Phase 3 program.